2025
ExxonMobil Guyana Limited – Tax Expense from 2020 to 2024 (USD$)
ExxonMobil Guyana – Income Tax Expense Report 2020-2024 USD$ ExxonMobil Guyana Limited Income Tax Expense Analysis • 2020-2024 Income Tax Expense Summary USD$ Year Income Tax Expense (USD) 2020 $0 (no tax expense) 2021 $0 (no tax expense) 2022 $284,813,567 2023 $662,906,474 2024 $1,248,000,000 Total (2020-2024) $2,195,720,041 Visual Analysis Income Tax Expense Progression Key Insights…
World Bank data continues to display Guyana’s poverty rate as 48% which contradicts other assessments that it has halved in three years
In spite of the oil-induced inflation of Guyana’s economy, a walk through Georgetown will show rampant poverty and homelessness. The same is true in many areas along the coast. The World Bank assessed in 2022 Guyana’s poverty rate as 48 per cent of the population living below the poverty line of USD 5.50 per day;…
Diaspora, Oil and Climate Change:Some Issues for Guyana
See video here: https://youtu.be/Vj_086ZqiVU?t=3428
Walking with Exxon down the path to the Resource Curse
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 164 “State capture is understood as efforts by private actors and public actors with private interests to redirect public policy decisions away from the public interest, using corrupt means and clustering around certain state organs and functions.”: Transparency International, Examining State Capture (2020),…
I still hold that Exxon’s accounting is indefensibly lacking
Mr. John Colling’s commitment to “transparency and open, fact-based discussions” regarding ExxonMobil’s operations in Guyana is a welcome breath of fresh air. His July 2 letter provides an excellent opportunity to address fundamental questions about the 2024 financial statements of the Stabroek Block partners and several unresolved historical issues. He boldly asserts that ExxonMobil’s financial…
Total Oil Extracted from 2020 to 2024
Guyana’s Oil Extracted (2020-2024) Crude Oil Extracted (2020-2024) Year Volume (‘000 barrels) Value (US$ Million) 2020 26,605 1,064.1 2021 42,213 2,975.5 2022 101,051 9,853.8 2023 141,657 11,581.5 2024 224,708 17,993.2 Total 536,234 43,468.1 Crude Oil Trends (2020-2024) Crude Oil Export Trends (2020-2024)
For every $1 in taxes paid by Guyanese employees in 2024, oil companies avoided paying $6.49 in taxes.
Guyanese citizens pay taxes and expect everyone to pay their fair share. Tax revenue funds essential services, including the salaries of customs officers who verify foreign oil workers’ identities, and pensions for seniors. Given this context, it is troubling that oil companies pay no taxes on their profits. According to the Bank of Guyana, personal…
For the Good Times
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 163 Introduction Following part one of this column, which was taken up by Kaieteur News, the Ministry of Natural Resources issued a defensive statement attacking the newspaper for questioning why ExxonMobil reported US$10 billion in profits while Guyana received only US$2.6 billion. Logically,…